07:53 PM
Sebi imposes Rs 1.55 crore fine on 23 entities for flouting regulatory norms
Capital markets regulator Sebi on Friday imposed fines totalling Rs 1.55 crore on 23 entities for violating regulatory norms in the matter of trading by certain entities in mentha oil futures contracts at Multi Commodity Exchange (MCX).The regulator slapped a fine in the range of Rs 1 lakh to Rs 10 lakh on 23 entities.
07:51 PM
Sebi imposes Rs 5 lakh fine on Videocon’s Venugopal Dhoot for disclosure lapses
Sebi on Friday imposed Rs 5 lakh fine on Videocon Group Founder Venugopal Dhoot for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions.The order came after Sebi conducted an examination following media reports published in March 2018 regarding certain ‘quid pro quo’ arrangements between Venugopal Dhoot and former Managing Director and Chief Executive Director of ICICI Bank Ltd Chanda Kochhar in lieu of grant of certain credit facilities by ICICI Bank to some entities belonging to the Videocon Group.
07:09 PM
US stocks open higher as inflation data boosts softer Fed policy hopes
Wall Street’s main indexes opened higher on Friday after data showed inflation slowed in February, supporting hopes of a softer monetary policy approach from the Federal Reserve.The Dow Jones Industrial Average rose 42.93 points, or 0.13%, at the open to 32,901.96.The S&P 500 opened higher by 5.35 points, or 0.13%, at 4,056.18, while the Nasdaq Composite gained 18.07 points, or 0.15%, to 12,031.54 at the opening bell.
07:01 PM
Sebi cancels registration of 3 brokers in NSEL case
Markets regulator Sebi on Friday cancelled the registration of three brokerage houses for facilitating its clients to trade on the platform of the now defunct National Spot Exchange Ltd (NSEL) in illegal ‘paired contracts’. The brokerage houses, whose registrations were cancelled, are Paterson Commodities, Blue Crest Commodities and Fair Intermediate Products.In three separate orders, Sebi found that these entities have either participated or facilitated the trading in ‘paired contracts’ on the NSEL platform.
05:58 PM
India’s forex reserves rise to over 8-month high
India’s foreign exchange reserves rose for a second straight week and stood at $578.78 billion, highest since early July, as of the week ended March 24, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.That is an increase of $5.98 billion from the previous week.The central bank intervenes in the spot and forwards market to prevent runaway moves in the rupee’s exchange rate against the dollar. Changes in the forex reserves also stem from valuation gains or losses.
05:39 PM
How did world indices perform in FY 23? Were there gains or losses for commodities? Take a look at the data below
The cautious sentiment of investors due to the continued stress in the US and European financial systems resulted in a slow start to the week. However, the home market managed to draw a positive close to the financial year due to the fading fear of contagion. The banking sector was in the limelight, with the news of SVB’s acquisition by First Citizens Bank bringing some certainty. Additionally, the moderation in the valuation of Indian stocks attracted foreign investors back to buying mode. In India, investors are anticipating the outcome of the RBI MPC meeting scheduled for next week, as well as the release of auto sales numbers and PMI data. The RBI is expected to raise rates by 25bps. Meanwhile, in the US, the release of personal consumption expenditures data is awaited, as it is a crucial indicator for forecasting the Federal Reserve’s future actions.
– Vinod Nair, Head of Research at Geojit Financial services.
05:24 PM
Senior Citizen Savings Scheme, Sukanya Samriddhi, NSC interest rates hiked by up to 70 bps for June quarter
The government has hiked the interest rates of small savings schemes by up to 70 bps for the April-June 2023 quarter. The finance ministry made this announcement via a circular issued on March 31, 2023. (One percentage point is equivalent to 100 basis points.) The interest rates of schemes like the Senior Citizen Savings Scheme, Monthly Income Savings Scheme, National Savings Certificate, Kisan Vikas Patra, all post office time deposits and Sukanya Samriddhi Account Scheme have been hiked.
04:54 PM
Tech View: Nifty forms morning star pattern on weekly scale. What should traders do next week
India VIX was down by 5.10% from 13.63 to 12.93 levels. Volatility has fallen from its highs and is now at the lowest levels of the last three weeks which is giving some comfort to the bulls.
Option data suggests a broader trading range in between 16900 to 17700 zones while an immediate trading range in between 17100 to 17550 zones.
Nifty as per weekly chart formed a long bull candle, which indicates a sharp reversal in the market on upside. After declining continuously for the last three months a doji type candle pattern was formed as per monthly timeframe chart. This is positive signal as per long term charts.
The bulls came back strong and the index surpassed the hurdle of 40000 with buying action throughout the day. The breakout confirms the positive momentum and one should keep a buy approach with immediate support at 40200. The index closed above the past 10 days’ high with a sharp surge in volumes which confirms the strength of the index. The index surpassed its 200 dma which acts as a change of polarity.
– Kunal Shah, Senior Technical Analyst at LKP Securities
04:01 PM
Rupee rises 17 paise to close at 82.17 (provisional) against the US dollar.
As the financial year drew to a close, the market witnessed an upward trend marked by bullish moves in the banking and IT sectors driven by robust global cues. Notably, an increased interest from foreign institutional investors due to the moderation in Indian stock valuations also aided. While the US market awaits the release of personal consumption expenditures data, which is considered a crucial indicator for forecasting the Federal Reserve’s future actions, domestic investors await the RBI MPC meeting scheduled next week.
– Vinod Nair, Head of Research at Geojit Financial Services.
03:35 PM
Heatmap: Most of the top stocks close with gains
03:34 PM
Closing Bell: Sensex ends 1031 pts higher on last day of FY23; Nifty above 17,350; Infosys, Tata Motors gain 3% each
03:28 PM
Engineers India secures job order worth Rs 48.82 crore
03:04 PM
GLOBAL MARKET CHECK
- The Stoxx Europe 600 rose 0.2% as of 10:09 a.m. London time
- S&P 500 futures rose 0.1%
- Nasdaq 100 futures were little changed
- Futures on the Dow Jones Industrial Average rose 0.1%
- The MSCI Asia Pacific Index rose 0.6%
- The MSCI Emerging Markets Index rose 0.5%
02:36 PM
Oyo pre-files DRHP with Sebi
Sources close to the company said the issue size has likely been reduced to $ 400-600 million all of which will be a primary issuance to repay most of its debt.
The confidential pre-filing route was introduced by Sebi in November last year.
02:14 PM
Coal India surpasses annual coal output target for the first time in 17 years. It produced 700.4 million tonnes of coal till penultimate day of FY23, with 100.4% target satisfaction.
02:02 PM
IT pack lead sectoral gainer: Check out best-performing stocks from the sector
02:01 PM
Sensex surges 1000 pts!
01:51 PM
Defence stocks buzzing in trade. Here’s why
01:46 PM
Shares of Railway PSU firm Rail Vikas Nigam (RVNL) rallied 4% to Rs 69.6 in Friday’s trade after the company received a Letter of Award from the Ministry of Railways for manufacturing and maintaining Vande Bharat trainsets.
01:43 PM
Global headwinds to deeply impact IT revenue growth in FY24, says Crisil
Global macroeconomic and financial sector headwinds are set to take a deep toll on the domestic IT companies’ revenue growth in FY24, a report said on Friday. The Rs 10 lakh crore sector is likely to witness revenue growth plunging by up to 9 percentage points to 10-12 per cent in FY24 as against the nearly 20 per cent growth estimated in FY23, Crisil Ratings said.
01:42 PM
Check out the top gainers!
01:41 PM
RIL top Sensex contributor at this hour
01:40 PM
Nifty trades above 17,300; gains 1.45% or 247 pts
01:38 PM
Sensex surges 900 points!
01:18 PM
These stocks hit fresh 52-week highs in trade!
Broader demand in the FMCG sector has continued to remain in a similar trajectory with previous quarters. Rural markets are witnessing some green shoots of recovery while Urban markets have continued to support overall growth. FY24 expected to be better than previous year given better demand from rural areas. However, the adverse weather conditions could be a roadblock to this recovery.
– Avinash Pathak, Research Analyst at LKP Securities
12:52 PM
Go Digit Insurance re-files IPO papers after regulator concerns
The IPO comprises a fresh issue of shares worth 12.5 billion rupees ($152.1 million) and an offer for sale of 109.4 million shares, according to the draft prospectus – unchanged from its last filing – dated March 30.
Digit, which operates in the general insurance sector and counts Canadian billionaire Prem Watsa’s Fairfax Group and TVS Capital Funds among its backers, first filed for an IPO in August last year.
12:46 PM
Market live updates: Sensex rallies over 800 pts; take a look at how top stocks are doing
12:32 PM
Market LIVE Updates | Lupin has received U.S. FDA approval for the Abbreviated New Drug Application for Tenofovir Alafenamide Tablets, 25 mg, a generic equivalent of Vemlidy® Tablets, 25 mg, of Gilead Sciences, Inc.
12:14 PM
Banking index among lead sectoral gainers: Check out the top performers from the pack
12:02 PM
Market LIVE Updates | Goodluck India approved interim dividend of Rs 2 per equity share
FY23 was a good year for the defense sector with GOI emphasising more and more on indigenisation as they produced a long list of products to be procured from India. This gave a solid kicker to all the domestic defense players though the defense outlay wasn’t that heavy in the Union Budget of 2023. However, in FY24, we expect the huge orders received by the defense companies last year from all the faculties of MOD to start delivering and add to the numbers this year. The upcoming elections next year in FY25, FY24 should see better inflow of orders to defense companies from GOI than FY23 and thus impact the sectoral performance positively.
– shwin Patil, Senior Research analyst at LKP Securities
11:44 AM
Nestle SA, the world’s biggest food group, is among final bidders competing to acquire India’s Capital Foods Pvt as it seeks to boost its presence in the fast-growing economy, people familiar with the matter said.
11:38 AM
Tokyo stocks end higher
Tokyo stocks ended higher Friday as risk appetite increased with investors cheered by a weakening yen and receding fears over the banking sector. The benchmark Nikkei 225 index gained 0.93 percent, or 258.55 points, to close at 28,041.48, while the broader Topix index added 1.02 percent, or 20.18 points, to 2,003.50.
11:28 AM
Shares of Defence PSU firm Bharat Electronics jumped 7.5% to Rs 98.3 in Friday’s trade on BSE after the company signed 12 contracts totalling Rs 8,194 crore with the ministry of defence (MoD) for Indian armed forces. The Ministry of Defence (MoD) has signed 10 contracts totalling Rs 5,498 crore and 2 contracts of Rs 2,696 crore with state-owned aerospace and defence electronics company Bharat Electronics, the PSU said in a regulatory filing to the stock exchanges.
11:24 AM
EM sovereign bond issuance at a record, Q1 asset performance wavers
For benchmarked returns in emerging markets there was a lot to choose from during the first quarter, with positive returns across local and foreign-currency bonds and stocks in select geographies. Emerging market local currency debt enjoyed a solid three months, on track for quarterly returns of 4.8% -outstripping U.S. 10-year Treasuries. Top of the pack are Colombia, Hungary and Chile, with gains of nearly 10% or higher, and seen as broadly having finished their interest rate hiking cycles. BlackRock, the world’s largest asset manager, turned overweight on the emerging market local currency debt earlier in March.
11:04 AM
The country’s largest two-wheeler maker Hero MotoCorp on Thursday said it has elevated Niranjan Gupta as the new Chief Executive Officer (CEO). Gupta, currently designated as Chief Financial Officer (CFO), Head – Strategy and M&A, takes over as the CEO with effect from May 1, 2023.
10:43 AM
These 5 realty stocks gain the most
Volatility and uncertainty in the global financial markets have increased over the past few weeks, though the ECB and the Fed have delivered 50bps and 25bps hikes respectively in March, as per our expectation. Incremental rate hikes from these two key central banks will depend on how incoming macro data and financial markets conditions evolve over the next few weeks and months. In India, CPI remains above the 6% threshold, including core inflation which remains sticky. Though CPI is likely to trend lower in the coming months, the probability of a 25 bps rate hike in the upcoming MPC seems high. To hike or not to hike could be the most discussed agenda as the clamour for a pause seems to be only growing.
– Lakshmi Iyer, CEO-Investment & Strategy, Kotak Investment Advisors
10:07 AM
MOSL initiates coverage on Vedant Fashion: MOSL expects the company to report a revenue/PAT CAGR of 21%/22% over FY23-25, driven by 15% footprint additions. It ascribes a forward P/E of 55x, at ~10% premium to our average retail coverage multiple, to arrive at a target price of Rs 1,400. The brokerage has initiated coverage on the stock with a BUY rating.
10:06 AM
Calcom Vision signs an agreement with Etrade Marketing Private (Amazon Basics) for supply of all types of LED products.
09:57 AM
L&T Construction wins orders for its power transmission & distribution business
09:56 AM
Forex Watch | Rupee rises by 24 paise to 82.10 against US dollar on FII flows
At the interbank foreign exchange market, the rupee opened higher at 82.12 and stayed in the green in early trade. It moved in a range of 82.16 to 82.10 in early deals.
The rupee had closed lower by 18 paise at 82.34 to a dollar on Wednesday. The forex market was closed on Thursday for Ram Navami.
09:54 AM
India’s most valuable company Reliance Industries Limited has started the process of demerger of its financial services business. A meeting of the creditors and shareholders of Reliance Industries will be held on May 02, 2023, to consider and approve the proposed scheme of arrangement between Reliance Industries Limited and Reliance Strategic Investments (RSIL). After the demerger, the name of the Reliance Strategic Investments shall be changed to Jio Financial Services Limited. Stock jumps over 3%.
09:45 AM
Market Live Updates: Sensex surges 740 pts!
That 16918 held off multiple downside attempts, and that 17070 region was finally conquered, encourages us to not only get back on the 17470 trajectory, but also look beyond. However, expect some tentativeness if unable to sustain opening gains above 17200, leading to a phase of consolidation, but expect a quick return toupside trajectory, unless the 17175-17100 region fails to arrest slippages.
– Anand James – Chief Market Strategist at Geojit Financial Services.
09:36 AM
Garden Reach Shipbuilders & Engineers enters into a contract with the Ministry of Defence, Government of India for construction of 04 Nos. Next Generation Offshore Patrol Vessels (NGOPV) at an estimated cost of Rs. 3,500 crore.
There are signs of the global equity markets, led by the mother market U.S., coming out of the banking contagion fears. The fact that there has been no further bank failures or major stress in the system, is good news for equity markets. Nifty valuations are now reasonable and this has prompted FIIs to turn buyers in the last two days. The market is oversold and this can lead to short-covering and a tactical rally in the near-term. But a sustained rally is unlikely since FIIs will again turn sellers at higher levels. The coming days will witness a lot of data/news driven market activity. Auto sales numbers on April 1st, MPC decision on interest rates on April 6th and Q4 results starting April 13th will trigger lots of movements in stock prices.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:27 AM
Jefferies initiates coverage on SBI Card with Buy call, target is Rs 900/Sh
09:26 AM
Va Tech Wabag led joint venture secures DBO order worth about Rs 4400 crore.
09:25 AM
Top gainers & losers in monring trade
09:22 AM
Vedanta Block Deal: 2.06 crore shares (0.55% equity) change hands
09:19 AM
Opening Bell: Sensex rallies over 550 pts, Nifty above 17,200; Nestle gains 3%, RIL 2%
09:08 AM
Pre-open session: Sensex rises 300 points; Nifty above 17,200
08:18 AM
Oil rises as China factory activity expansion lifts demand hopes
Oil prices climbed in early Asian trade on Friday as sentiment was boosted by an expansion in factory activity in China, the world’s second largest crude consumer, and as concerns grew about Middle Eastern supply.
07:56 AM
Tokyo stocks open higher
Tokyo stocks opened higher on Friday, extending Wall Street gains as fears over recent banking sector turmoil eased.The benchmark Nikkei 225 index was up 0.81 percent, or 224.05 points, at 28,006.98 in early trade, while the broader Topix index added 0.87 percent, or 17.30 points, to 2,000.62.
07:54 AM
Asian shares ride high in Q1 but steel for US inflation data
Asian shares were headed for a second quarterly gain on Friday while bonds were enjoying the best month since 2008, but the market was braced for a stormy session after an upside surprise in German CPI raised the stakes for U.S. inflation data. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 1% on Friday, heading for its first March gain in four years with a rise of 2.9%, as fears of a global banking crisis receded.
